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The revenue (X) from the sales of a company has an expected value of $7,403, with a standard deviation of $551 while the cost (Y) has an expected value of $4,566, with a standard deviation of $348. The covariance between the revenue and cost is 1,434. What is the variance of the profit (X-Y) of the company?
Discuss the differences between unemployment and underemployment and give examples of each. Which do you think is a more serious “problem” for the economy? How might underemployment be addressed through government policy?
There is an intimate connection between politics and economics, and different systems of the two can only exist side-by-side in certain pairings. For instance, says Friedman, a society which is (economically) socialist cannot also be (politically) de..
Assist on writing a 1 page paper on political also legal influences. A research paper- Illustrate what's economics issue or problem seen in behavior we observe in the world around us.
What is profit-maximizing level of hiring for firm. How is it determined. What is equilibrium quantity of labour hired in market. Does it make sense given number of firms.
What are the most important things to consider when making a pricing decision for a good whose demand as well as is elastic.
Why would the gov't want to limit gas price increases? Isn't that exactly what we want to happen (price increases), to allocate scarce resources? Is the gov't in the 'price control' business, and if they are, how does this work, in free-market capita..
Classical economists struggled with the "Water-Diamond Paradox" which seeks an explanation for why water (which is very useful) has a low price, whereas diamonds (which are not particularly important to life) have a high price.
What are efficiency, producer surplus, worker surplus, and total gains from trade? Why would we expect regional wage levels to converge? What happens to total gains from trade as regional wages converge? How do payroll taxes affect labor markets (i.e..
In 1796, Gottfried Christoph Härtel, a German music publisher, calculated the cost of printing music using an engraved plate technology and used these estimated cost functions to make production decisions. Graph the total cost, average total cost, av..
a company builds furniture. recently different woods they use have become harder to obtain. consultation with
Clarke's workers are highly skilled artisans with a great deal of job mobility. What impact would the wage increase have upon the firm's employment.
Explain how do the life-cycle hypothesis also the permanent income hypothesis resolve the seemingly inconsistent pieces of evidence regarding consumption behaviour.
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